The current state of the cryptocurrency market is filled with anticipation, with two significant events on the horizon poised to bring potential transformations. Firstly, the launch of a Bitcoin spot ETF in the United States is expected to have far-reaching implications. Unlike existing Bitcoin ETFs that utilize financial derivatives, this new ETF will be directly backed by Bitcoin (BTC) and subject to comprehensive regulation.

This development is eagerly awaited by institutional investors who have been hesitant to invest in cryptocurrencies due to their volatility and perceived risks.

The second event that will impact the future of the cryptocurrency market is the scheduled Bitcoin (BTC) halving in April 2024. When the halving event occurs, miners' rewards will be reduced by 50%, which typically serves as a catalyst for a significant surge in BTC prices.

Past halving events have led to substantial price increases, with Bitcoin reaching historical highs in the previous cycle. As the halving approaches, scarcity of major cryptocurrencies may increase, potentially driving up their value if buyer interest remains strong.

Therefore, in 2024, cryptocurrencies can be considered as one of the targets for asset allocation. Cryptocurrency is also one of the most closely watched investment products by Lonton Wealth Management Company in 2024.

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